Estate planning involves many steps intended to help the planner and any beneficiaries. Often, beneficiaries receive assets as specified by a will, but some accounts may transfer to named beneficiaries. Life insurance policies also name beneficiaries, and an insured...
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Purposes and types of common trusts
A trust is a legal instrument into which assets can be placed in order to provide greater flexibility in asset management or to separate the assets from the current owner for tax or probate reasons. In Indiana, the parties relevant to a trust are the settlor, the...
Irrevocable trusts and Medicaid eligibility
Many people in Indiana may be concerned about how they will cover the costs of long-term nursing care in the future. For many seniors, Medicaid is an important lifeline to pay for ongoing nursing home care, especially as the cost of such care continues to rise....
The top benefits of a special needs trust in Indiana
A special needs trust is a legal document that allows individuals with disabilities to receive financial assistance in the course of their lifetime. It's set up by a family member or friend, and it can help in covering the costs of medical care, housing, education and...
Facts about wills, trusts and advanced directives
Making preparations for the future is one of the most important things that you can do for yourself and your loved ones in southern Indiana. This includes making arrangements for your healthcare in case you are no longer able to make decisions for yourself as well as...
How do you set up a trust in Indiana?
Setting up a living trust in Indiana is a simple process. You should know before beginning, however, that you should still create a will too because it addresses aspects of your wishes that you aren't able to fulfill through a trust. Determine what type of trust There...